HMU has clean audit; numbers show revenues up

HARLAN -- The recently released and board accepted 2016-2017 audit for the Harlan Municipal Utilities showed a ‘clean” audit with their combined net asset position up slightly on increased revenues.
    The Utility’s combined net position increased by $1,856,290 or 5.17 percent, an amount that was $664,077 higher than originally budgeted.  This came with an operating revenue increase of 5.74 percent and despite a 3.59 percent increase in expenses.
    Telecommunications, Water and Electric net positions increased while the Gas unit position decreased slightly.  
    Taken individually, Electric saw $7,987,084 in revenue (up $772,171) and had general expenses of $5,813,871 (up $172,663).  Net position increased $1,792,708.
    Gas had revenues of $2,587,105 (down $45,632) and general expenses of $2,575,040 (up $132,759). Net position dropped $32,925.
    Water brought in $2,013,904 (down $43,786) and had general expenses of $1,744,997 (up $107,219).  Net position increased $44,252.
    Telecommunications had revenue of $2,240,580 (up $122,702) and general expenses of $2,145,629 (up $12,993). That net position increased $52,255.
    (Note that there were other non-operating revenues and expenses, so end position isn’t merely a factor of operating revenue less regular expenses.)